Let Me Clarify What I Meant by Rate Hike #SassyMusings 4/9/14
- Fun day huh? I must thank Yellen for that pop we got to sell into.
- Essentially the Fed
clarifiedbacktracked out of that detailed description of rate hikes. - As I mentioned yesterday, I think the brunt of the selling is over (for the time being). I don’t think all stocks blast to new highs like they used to and I think we will be getting more of a correction later, but for now I think we can start tiptoeing our way back into the oversold names.
- Given that we typically get a low on the Thursday or Friday before options expiration and given that I want to see some confirmation that this market is back on track, we only have a little exposure here. If a new trend begins there will be more than enough good picks to get into.
- Chart of the day: SPLK – Not bad returns for holding this for less than 24 hours (10% move is big in options).
- Here’s a stock to keep your eyes on (yes we got long today, but think you can still benefit)… SUNE
- Tweet of the day: I have two since I haven’t had any at all this week yet. I told you, when markets go up people are funnier. And then when I get too many funny tweets in a row, I use it as a sell indicator :-).
- True that!
- Although my service has been doing very well in terms of picking stocks, I want to make clear that we have had some losers too, but they have been risk managed small losers. And I would say the most important thing I am trying to teach is risk management. Not losing is my #1 concern always. Making good $$$ just makes it more fun.
Have a good night. If you are looking for guidance check out my premium service.